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Jewellery Insurance: How Does It Work?

Last updated on March 04, 2024

How Does Jewellery Insurance Work?

Jewellery insurance is a specialised cover designed just for jewellery. Jewellery insurance policies provide specific benefits that consider how you use your jewellery and how it should be treated if lost, stolen or damaged.


You’re about to buy the most expensive piece of jewellery you’ve ever owned. Of course you want to protect it! But if you’ve never had a specialised jewellery insurance policy before, you may have lots of questions:

    • How does it work?

    • How do I purchase it?

    • What does it cover?

    • How can it help?

In this article, we’ll walk you through the basics. By the time you’re through, you’ll feel confident enough to rock that jewellery without worry.


How Does Jewellery Insurance Work?

Unlike some other types of insurance, jewellery cover is very straightforward. You purchase coverage for a specific item of jewellery or a luxury watch, and its full value is covered.

If something happens to it, you submit a claim. Typically, we’ll need a police report and a statutory declaration to process the paperwork. Then, you sit back and relax while we work with your chosen jeweller to repair or replace the item.


How Do I Purchase Jewellery Insurance?

Buying JewelCover insurance couldn’t be simpler. 

Start with an instant quote to find out how inexpensive it can be to protect your favourite jewellery. If you want to proceed, you’ll submit some documentation, and we’ll start your policy.

We recommend that you start your policy at the point of sale. That way, it will be covered from the moment you walk it out of the store. 

Every year when it’s time to renew, one of our jewellery experts will conduct a revaluation. The price of jewellery fluctuates depending on the availability of materials, precious metal prices, labour costs, exchange rates and so forth. That’s why it’s imperative that you know the current value of your jewellery.

If the value of your jewellery has gone up or down, we’ll renew at the new value.


What Does Jewellery Insurance Cover?

What if the diamond falls out of your engagement ring? Will your grandfather’s Rolex be covered if it’s stolen?

JewelCover insurance protects your treasures from theft, loss, and damage.


Cover Inside and Outside the Home

Home and contents insurance is perfect for televisions. Jewellery? Not so perfect. Enjoy a policy that covers you inside and outside your home.


Cover From the Moment You Leave the Jeweller

Every future groom worries about the safety of that carefully purchased engagement ring. What if it gets lost or stolen before she even sees it? Instant cover means instant peace of mind. Insure your jewellery from the point of sale for day-one protection.


An Agreed Value Policy

People buy jewellery insurance to avoid unpleasant surprises. We aim to provide peace of mind to our customers, so we offer agreed value policies. You’ll always know how much you’re covered for, guaranteed. 


Return to Your Chosen Jeweller

It’s your jewellery, so you get to choose where to go for repairs or replacement. If you’d like to return to your original jeweller, we’ll make that happen.


Complimentary Annual Revaluation

As mentioned previously, we don’t like surprises, and we know you don’t either. With complimentary annual revaluations, you’ll always know how much your jewellery is worth and how much you’re covered for.


12 Months Worldwide Cover

Take that engagement ring on your honeymoon. Wear your grandmother’s pearls with confidence. No matter how far you roam, we’ll protect your jewellery so you can wear it with pride.


How Can Jewellery Insurance Help?

Instead of worrying about your jewellery, enjoy it. Wear it to the office. Take it on vacation. Please remove it from its velvet box, and let it see the light of day.

With JewelCover, you can rock your jewellery with complete peace of mind, knowing it’s protected at all times.

Happy customer Eamon Jethi put it this way: “Highly recommend Jewel Cover!! Super easy to receive a quote and insure my new watch... Raff was a pleasure to deal with and communicated almost instantly to all my questions! Delighted to now have peace of mind that watch is insured.”

Still have questions? Give us a ring.

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